Distressed loans equal to cost of 22.5 Padma bridges
Distressed assets in the banking sector have reached a whooping Tk 6,75,030 crore, an amount bigger than the cost of building 22 bridges across the Padma or 13.5 metro rail systems in Dhaka, according to a White Paper released yesterday.
1d ago
Banks reel from liquidity crisis despite rising deposit rates
Despite rising interest rates on deposits and various efforts by the central bank, Bangladesh’s banking sector continues to face a liquidity crisis that has hamstrung some lenders.
1w ago
Moody’s downgrades Bangladesh banking rating to ‘very weak’
Moody’s has downgraded Bangladesh’s banking sector to “very weak” from “weak”, citing worsening client confidence, limited transparency and inadequate financial safeguards over the past year.
1w ago
How some non-banks tamed bad loans
When most non-bank financial institutions (NBFIs) in Bangladesh are in hot water with high ratios of non-performing loan (NPL), a handful have been successfully able to keep the rate low.
1w ago
Bad loans hit alarming record
Awami League-affiliated businesses had already put the country’s banking sector in trouble with huge bad debts, but the loans disbursed through irregularities to these companies turned sour even at a more alarming pace after the party’s ouster.
2w ago
Credit card spending rose 14% in September
Credit card transactions within Bangladesh in September rose 14.42 percent to Tk 2,668 crore compared to that in August.
2w ago
Govt to devise plan to retrieve Tk 873cr climate fund from Padma Bank
The interim government is going to formulate a specific roadmap to recover funds of the Bangladesh Climate Change Trust (BCCT), amounting to Tk 873.82 crore, that have been held up in Padma Bank since 2016.
3w ago
A third of NBFIs hold over 73% of bad loans
Twelve non-bank financial institutions (NBFIs) out of a total 35 are holding nearly 73.5 percent of the sector’s bad loans, according to Bangladesh Bank data, reflecting a precarious situation at those entities.
3w ago
October 23, 2024
Bangladesh Bank expands inflation battle with rate hike
The central bank raised the key policy rate by 50 basis points to 10 percent yesterday, making borrowing costlier for the 11th consecutive time to tame inflation as spiralling prices remain a headache for the interim government.
October 17, 2024
Cash outside banks keeps rising
The volume of cash outside the banking sector of Bangladesh has been increasing since the start of the year due to persistent inflation, the loss of consumer confidence in the sector due to the presence of ailing lenders, and the prevailing situation following the recent political changeover.
October 15, 2024
Amid liquidity crunch, banks offer high rates to lure depositors
Amid a persistent liquidity crunch, some lenders are desperately trying to increase their deposit base by offering higher interest rates to attract customers.
October 13, 2024
Inward remittance through MFS hits 5-year high in August
Bangladesh’s migrant workers sent home Tk 1,101.8 crore in remittances through mobile financial service (MFS) providers in August, marking the highest monthly receipts through digital channels in the past five years.
October 11, 2024
Card transactions hit 27-month low in August
Transactions through debit, credit and prepaid cards dipped to a 27-month low in August this year, owing to a lack of cash in ATM booths amidst security concerns and people curtailing spending for political uncertainties..Overall transactions through the cards in August amounted to Tk 33,9
October 8, 2024
Yunus’ economic gambit paying off
Two months ago, as Professor Muhammad Yunus waded into Bangladesh’s unprecedented political turmoil, he inherited economic chaos by default.
September 30, 2024
Distressed loans soar to a record Tk 4.75 lakh cr
Distressed loans at banks totalled over Tk 4.75 lakh crore at the end of 2023 – a revelation that makes for a sobering read of the actual health of this vital sector of the economy.
September 29, 2024
Minimum 2% shareholding for board membership a reason behind banking sector ills
Referring to the legal provision requiring a 2 percent shareholding in a commercial bank to become a director, Abdul Mannan, chairman of First Security Islami Bank (FSIB), said this has driven away seasoned banking leadership from boardrooms and allowed infamous individuals like S Alam into banking leadership roles.
September 23, 2024
Beximco seeks extension of loan tenure by 10 years
Beximco has sought support from the government to extend the repayment period of its liabilities to Janata Bank over the next 10 years, including a two-year moratorium.
September 22, 2024
Forex market on the mend as remittances rebound
After a prolonged period of crisis, the foreign exchange market in Bangladesh, especially the interbank forex market, is showing signs of recovery, driven by a rebound in remittance receipts and key policy interventions by the central bank.
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